For most websites a regular hosted site is all you really need, you most likely be able to scale up your plan with your hosting provider in the future (check with the hosting provider first before committing to a basic plan). However, if you are planning on having multiple websites, higher traffic volumes, and/or your site processing data on a regular bases, then jumping straight into a ‘Power’ or ‘Pro’ (upgraded) hosting plan might be the right choice.
Having a beefier hosting plan is going to cost a little more, of course, however poor website performance might cost you even more. Also opting for a better hosting package will mean that your provider will take you and your site a little more seriously when things need to get done.
Also having a ‘Power’ or ‘Pro’ (upgraded) hosting plan should give you better features like free SSL, credit towards online advertising, and other tools/features that would not be in a basic plan.